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2441 Turning Leaf Lane Midlothian, TX 76065

4 Beds 2 Baths 2,314 sqft Built 2021

$405,433

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $175.21
  • 4 Days on Market
  • MLS # : 14526643
  • Updated Date : 03/04/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,314 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Brand New Bloomfield Home, Ready for Move-in May 2021! One-story with 4 beds, 2 bath and 2-car garage. Stone & Brick Exterior, comes fully landscaped, fenced & with complete irrigation system. Rotunda entryway with Formal Study off entrance - could be used as additional bdrm. Formal Dining Room. Open layout with rooms flowing into one another. Spacious Family Room features Wood-burning fireplace. Engineered Wood floors throughout. Beautiful Kitchen with Painted Cabinets, SS Appliances, and walk-in pantry. Plenty of windows to bring in natural light. Huge Owner's Bedroom Suite with ensuite bath. Arched doorways, built-in shelving in secondary bdrms, decorative niches and cutouts. Call today to learn more!

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
T.e. Baxter Elementary School Primary Regular 611 41 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

T.e. Baxter Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 41
6
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$364,890$445,976$405,433

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,408
Property Tax -$885
Property Insurance -$161
HOA -$34
Property Management Fees -$99
CASH FLOW
-$397

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$405,433

PROJECTED PRICE

$2,190

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,440

INVESTMENT

$109,440

Down Payment
$101,358
Rehab Estimate
$2,000
Closing Costs
$6,081

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,408

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,358
Loan Amount $304,075
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$564

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,190

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,198

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,096
1$2,0962$2,1903$2,3004$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 2441 Turning Leaf Lane Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.95
    •  
  • 2209 Goose Down Court Midlothian, TX 1
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2004
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,096
    • $0.90
    •  
  • 1518 Melanie Trail Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2010
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 2609 Grouse Hollow Way Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2019
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.01
    •  
  • 4413 Dandelion Lane Midlothian, TX 5
    • 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2020
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526643
Last Updated: 03/04/2021
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